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Anonymous donor gives over $5 million to effort to save West Newton Cinema (www.wbur.org)

submitted 7 months ago by borebore to c/boston

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[–] [email protected] 1 points 7 months ago (1 children)

“donor gave $5.2 million”

“had raised about $400,000 from over 700 grassroots donations”

“says $3 million of the donation will go toward the group's primary — and most time-sensitive — goal of raising $5.6 million to buy the theater”

"We do not quite have enough money for the purchase itself yet, but we are drawing close to that," Heilig said.

Hmm. I thought $5.2M + $400k was equal to $5.6M. Sounds like the primary goal is to make 2.2 million, 2.6 if you include the 400k raised, disappear. Sounds super dodgy.

[–] hendu 4 points 7 months ago* (last edited 7 months ago)

The goal is to raise $14m, for purchase, renovations, and operations. The article says that $2m of the $5m is going to be used in a campaign for matching donations. It's a common tactic to get more people to donate. Even though they already have that money, they aren't adding it to their total until more people chip in. If it works, it will get them up over $7m.